FHB losses halved in Q2

Telco

FHB Mortgage Bank had a second-quarter loss of HUF 1.5 bln, a little less than half of the HUF 3.2 bln loss in the same period a year earlier, an earnings report published late Monday shows.

FHBʼs bottom line was helped by HUF 5.3 bln of "other operating income", up from a little less than HUF 100 mln in the base period.

FHB noted that its P+L statement was adjusted to show the pro rata impact of the bank levy on its earnings.

Net interest income fell 34% to HUF 3.3 bln as interest rates fell. Net revenue from commissions and fees rose 62% to HUF 1.7 bln. Risk provisions increased 92% to HUF 2.1 bln.

FHB had total assets of HUF 753.6 bln on June 30, up 12% from twelve months earlier. Net assets rose 12% to HUF 82.5 bln.

Client loans fell 11% to HUF 326.2 bln. Client deposits climbed 30% to HUF 337.4 bln.

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